Summary

Other Scenarios:

Buyer: Altana AG (ADR) (AAA) Last Price: 55.50 Market Cap.: 7.53B
Target: Adams Respiratory Therapeutics, Inc. (ARXT) Last Price: 43.01 Market Cap.: 1.51B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
*Healthcare 872
Biopharmaceuticals 329
Manufacturing   1,171
Materials   436

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Sample Products in Similar Lines of Business

Sample Products in Complementary Lines of Business
Buyer (Total: 29)
  • Omnaris (Nasal Spray Ciclesonide)
  • Metronidazole Topical Cream
  • Erythromycin
  • Ciclopirox
Target (Total: 8)
  • Erdosteine
  • Delsym (Dextromethorphan Polistirex)
  • Maximum Strength DM (Guaifenesin/Dextromethorphan Hydrobromide Extended Release)
  • Mucinex DM (Guaifenesin/Dextromethorphan Hydrobromide Extended Release)
Buyer
  • ALTANA Chemie AG
Target

n/a

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 6)
  • GPC Biotech AG (ADR) (GPCB)
  • 3M Company (MMM)
  • Rockwood Holdings, Inc. (ROC)
  • inVentiv Health Inc. (VTIV)
Target (Total: 3)
  • Cardinal Health, Inc. (CAH)
  • UCB S.A.
  • Boehringer Ingelheim GmbH
Buyer (Total: 3)
  • Wyeth (WYE)
  • sanofi-aventis (ADR) (SNY)
  • CollaGenex Pharmaceutical, Inc (CGPI)
Target (Total: 4)
  • Wal-Mart Stores, Inc. (WMT)
  • Walgreen Company (WAG)
  • CVS Corporation (CVS)
  • McKesson Corporation (MCK)

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 13,431 496
Revenue Per Employee 378,525.1 1,009,222.0
Total Revenue 1,240.8 52.8
Total Expenses 996.4 41.9
Other Revenue 0.0 0.0
Cost of Revenue 433.3 10.8
SG&A Expense 388.0 25.0
Research & Development 146.1 7.5
Other Operating Expense 29.0 0.0
Operating Income 244.4 11.0
Unusual Income 0.0 0.0
LT Debt to Capital 1.77 0
Fwd P/E 12.93 24.07
Fwd P/Rev n/a 4.12
Book Value 2,655.3 222.3
Curr Portion of LTD/Cap Lease 393.0 0.0

Individual Company Summary

Focused

Buyer

Focused (): *Healthcare > Biopharmaceuticals

Target

Focused (): *Healthcare > Biopharmaceuticals > Respiratory System > Upper Respiratory Tract Disorders > Coughs/Colds

Business Description

Buyer

ALTANA AG (ALTANA) is a globally operating company that develops, manufactures and markets pharmaceutical and chemical products for a range of targeted, highly specialized applications. The Company operates in two segments: pharmaceuticals and chemicals. ALTANA's pharmaceuticals division develops therapeutics for the global pharmaceuticals markets with a focus on unmet medical needs in the gastrointestinal and respiratory areas. The pharmaceuticals business is mainly driven by Pantoprazole. ALTANA's chemicals division offers a portfolio of specialty chemicals, including additives and measuring instruments, metallic effect pigments and printing inks, coatings and sealing compounds, and electrical insulation coatings for use in a range of downstream applications. On October 1, 2005, ALTANA acquired ECKART GmbH & Co. KG. During the year ended December 31, 2005, it sold its Austrian subsidiary Rembrandtin Lack Ges.m.b.H. In October 2005, the Company acquired Kelstar International.

Target

Adams Respiratory Therapeutics, Inc. is a specialty pharmaceutical company focused on late-stage development, commercialization and marketing of over-the-counter (OTC) and prescription pharmaceuticals for the treatment of respiratory disorders. The Company markets three OTC products under its Mucinex brand, one product under its Humibid brand, two products under Delsym brand and four products under Children's Mucinex line of products. In June 2006, the Company acquired the United States marketing and sales rights to Delsym from UCB, Inc. (UCB). Delsym is an OTC 12-hour liquid cough suppressant.

Deal Summary

Key Ratios

  Buyer Target
Gross Margin % 65.51 79.36
Operating Margin % 19.38 31.85
Quick Ratio 3.85 2.84
Current Ratio 5.23 3.52
Coverage Ratio 0 0
Total Assets 4,659.5 252.6
Return on Equity % 21.98 20.85
Return on Assets % 12.53 18.35
Cash+ ST Inv. Per Share 4.01 1.52
Total Debt 440.9 0.0
Total Debt to Equity % 16.6 0
Total Debt to Tangible Equity % 24.63 0
Debt to Asset % 9.46 0.00

Product Summary

Sector Buyer Target
*Healthcare
Biopharmaceuticals
Allergies
The Allergies Subsector includes therapeutics that treat exaggerated immune reaction induced by exposure to a foreign substance.
  
Dermatology
The Dermatology Subsector includes therapeutics that treat disorders affecting the skin.
  
Digestive System
The Digestive System Subsector includes therapeutics that treat disorders affecting the digestive system.
  
Infectious Diseases
The Infectious Diseases Subsector includes therapeutics that treat diseases caused by the invasion and reproduction of microorganisms in the body.
  
Oncology
The Oncology Subsector includes therapeutics that treat and manage various types of cancer and related complications.
  
Respiratory System
The Respiratory System Subsector includes therapeutics that treat disorders affecting both the upper and lower respiratory tract, including the nose, throat, larynx, trachea, bronchi, and lungs.
Manufacturing  
Materials  
Chemicals
The Chemicals Subsector includes companies that manufacture basic, intermediate, specialty, and performance chemicals.
  

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Product Details

Sector Buyer Target
*Healthcare
Biopharmaceuticals
Allergies  
Upper Respiratory  
Steroidal Anti-Inflammatory Drugs (SAID)
Therapeutics that counteract or suppress inflammation using a steroidal compound.

Buyer Products:

  • Omnaris (Nasal Spray Ciclesonide)
  
Dermatology  
Acne  
Rosacea  
Emollients
Therapeutics that treat chronic inflammatory disorder of the face characterized by redness and pimple formation by moisturizing and softening the skin.

Buyer Products:

  • Metronidazole Topical Cream
  
Vulgaris  
Antibacterial Agents  
Macrolides
Therapeutics that treat acne vulgaris caused by bacterial infection by inhibiting RNA-dependent bacterial protein synthesis.

Buyer Products:

  • Erythromycin
  
Lesion/Scaling Disorders  
Dermatitis  
Atopic (Eczema)  
Emollients
Topical therapeutics that soothe and soften the skin.

Buyer Products:

  • Metronidazole Topical Cream
  
Seborrheic (Dandruff)  
Antifungal Agents  
Imidazoles
Therapeutics that treat and prevent skin diseases caused by fungi.

Buyer Products:

  • Ciclopirox
  • Ketoconazole
  
Dermatoses  
Steroidal Anti-Inflammatory Drugs (SAID)
Therapeutics that counteract or suppress inflammation by inhibiting the accumulation of inflammatory cells like leucocytes and macrophages at the inflammation site.

Buyer Products:

  • Mometasone Furoate Cream
  • Fluticasone Propionate
  • Fluocinonide E Cream
  • Alclometasone Dipropionate
  • Betamethasone Dipropionate Cream
  • Mometasone Furoate Topical Solution
  • Aclovate (Alclometasone Dipropionate)
  • Cutivate (Fluticasone Propionate)
  • Temovate (Clobetasol Propionate)
  
Digestive System  
Gastrointestinal Tract Disorders  
Gastroduodenal Disorders  
Zollinger-Ellison Syndrome  
Proton Pump Inhibitors
Therapeutics that treat ulcers by inhibiting the membrane protein involved in the final steps of triggering acid release into the stomach.

Buyer Products:

  • Protonix (Pantoprazole Sodium)
  
Gastroesophageal Disorders  
Acid Indigestion/Heartburn  
Proton Pump Inhibitors
Therapeutics that treat heartburn by inhibiting the action of the membrane protein involved in the final steps of triggering acid release into the stomach.

Buyer Products:

  • Protonix (Pantoprazole Sodium)
  
Erosive Esophagitis  
Proton Pump Inhibitors
Therapeutics that treat Erosive Esophagus by inhibiting the actions of receptors responsible for triggering acid release into the stomach.

Buyer Products:

  • Protonix (Pantoprazole Sodium)
  
Gastroesophageal Reflux Disease (GERD)  
Proton Pump Inhibitors
Therapeutics that treat Gastroesophageal Reflux Disease by inhibiting the membrane protein involved in the final steps of triggering acid release into the stomach.

Buyer Products:

  • Protonix (Pantoprazole Sodium)
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of digestive disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • Soraprazan
  
Infectious Diseases  
Bacterial  
Antibacterial Agents  
Broad Spectrum  
Antibiotics  
Aminoglycosides
Therapeutics that treat a wide variety of infections by inhibiting bacterial protein synthesis.

Buyer Products:

  • Gentamicin
  
Macrolides
Therapeutics that treat a wide variety of infections by inhibiting RNA-dependent bacterial protein synthesis.

Buyer Products:

  • Erythromycin
  
Pseudominic Acids
Therapeutics that treat a wide variety of infections by inhibiting bacterial protein synthesis and RNA synthesis.

Buyer Products:

  • Mupirocin Ointment
  
Narrow Spectrum  
Urology  
Vaginitis  
Lincosamides
Therapeutics that treat inflammation of the mucous membrane of the vagina caused by bacterial infection by inhibiting bacterial protein synthesis.

Buyer Products:

  • Clindamycin Phosphate Vaginal Cream
  • Clindamycin Phosphate Topical Solution
  
Mycological (Fungal)  
Antifungal Agents  
Broad Spectrum  
Azoles  
Imidazoles
Therapeutics that treat fungal infections by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • Ketoconazole
  
Narrow Spectrum  
Dermatology  
Candidiasis  
Azoles  
Imidazoles
Therapeutics that treat fungal infections of the skin caused by yeast by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • Ketoconazole
  
Tinea Corporis (Ringworm)  
Azoles  
Imidazoles
Therapeutics that treat fungal infections of the skin characterized by scaly, red rings by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • Ciclopirox
  • Ketoconazole
  • Oxistat (Oxiconazole Nitrate)
  
Tinea Cruris (Jock Itch)  
Azoles  
Imidazoles
Therapeutics that treat fungal infections of the groin and perineum by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • Oxistat (Oxiconazole Nitrate)
  • Ciclopirox
  • Ketoconazole
  
Tinea Pedis  
Azoles  
Imidazoles
Therapeutics that treat fungal infections of the feet by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • Ketoconazole
  • Ciclopirox
  • Oxistat (Oxiconazole Nitrate)
  
Tinea Versicolor  
Azoles  
Imidazoles
Therapeutics that treat fungal infections of skin exposed to the sun characterized by patches of depigmentation by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • Ketoconazole
  • Ciclopirox
  
Digestive System  
Mucous  
Candidiasis  
Azoles  
Imidazoles
Therapeutics that treat fungal infections of the secretory lining of the tissues caused by a yeast by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • Ketoconazole
  
Oncology  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment and management of cancer and are currently in an early research or preclinical stage of development.

Buyer Products:

  • Oncology Program
  
Respiratory System
Lower Respiratory Tract Disorders (Lung Disorders)  
Asthma  
Acute Treatments  
Bronchodilators  
Phosphodiesterase Inhibitors (PDE Inhibitors)
Therapeutics that inhibit the break down of phosphodiesters thereby increasing levels of Nitric Oxide which help in dilating the blood vessels in the lungs.

Buyer Products:

  • Daxas (Roflumilast)
  
Prophylactic Treatments  
Phosphodiesterase Inhibitors (PDE Inhibitors)
Therapeutics that inhibit the break down of phosphodiesters thereby increasing levels of Nitric Oxide which help in relaxing smooth muscles in the lungs.

Buyer Products:

  • Daxas (Roflumilast)
  
Steroidal Anti-Inflammatory Drugs (SAID)
Therapeutics that treat asthma by reducing inflammation in the lung passages with steroids.

Buyer Products:

  • Alvesco (Ciclesonide)
  • Alvesco (Metered Dose Inhaler Ciclesonide)
  
Chronic Obstructive Pulmonary Disease (COPD)  
Acute Treatments  
Phosphodiesterase Inhibitors (PDE Inhibitors)
Therapeutics that inhibit the break down of phosphodiesters thereby increasing levels of Nitric Oxide which help in relaxing smooth muscles in the lungs.

Buyer Products:

  • Daxas (Roflumilast)
  
Prophylactic Treatments  
Phosphodiesterase Inhibitors (PDE Inhibitors)
Therapeutics that are used to prevent COPD attacks by inhibiting the break down of phosphodiesters thereby increasing levels of Nitric Oxide which help in relaxing smooth muscles in the lungs.

Buyer Products:

  • Daxas (Roflumilast)
  
Respiratory Distress Syndrome (RDS)  
Surfactants
Therapeutics that treat RDS by modifying alveolar surface tension and thereby stabilizing the alveoli.

Buyer Products:

  • Venticute
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of respiratory disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • Ciclesonide/Formoterol Combination Therapy
  • Alvesco (Dry Powder Inhaler Ciclesonide)

Target Products:

  • Erdosteine
Upper Respiratory Tract Disorders  
Coughs/Colds  
Antitussives
Therapeutics that relieve or prevent coughs.

Target Products:

  • Delsym (Dextromethorphan Polistirex)
  
Antitussives/Expectorants
Therapeutics that treat coughs and colds by suppressing coughs and helping ejection of the mucous.

Target Products:

  • Maximum Strength DM (Guaifenesin/Dextromethorphan Hydrobromide Extended Release)
  • Mucinex DM (Guaifenesin/Dextromethorphan Hydrobromide Extended Release)
  
Decongestants/Expectorants
Therapeutics that treat coughs and colds by reducing mucous build up and help in ejection of mucous.

Target Products:

  • Mucinex D (Guaifenesin/Pseudoephedrine HCl Extended Release)
  • Maximum Strength D (Guaifenesin/Pseudoephedrine HCl Extended Release)
  
Expectorants
Therapeutics that treat coughs and colds by helping in the ejection of mucous.

Target Products:

  • Mucinex SE (Guaifenesin Extended Release)
  • Humibid (Guaifenesin Extended Release)
  
Manufacturing  
Materials  
Chemicals  
Basic and Intermediate Chemicals  
Dyes and Pigments
Includes companies engaged in the manufacturing of dyes and pigments.

Buyer Products:

  • ALTANA Chemie AG
  
Specialty and Performance Chemicals  
Additives  
Lubricant Additives
Includes companies engaged in the manufacturing of lubricant additives, chemicals added to lubricants to impart specific beneficial properties or to enhance performance.

Buyer Products:

  • ALTANA Chemie AG
  
Other Performance Additives
Includes companies engaged in the manufacturing of other performance additives, chemicals added to a variety of materials to impart specific beneficial properties or to enhance performance.

Buyer Products:

  • ALTANA Chemie AG
  
Polymer Additives
Includes companies engaged in the manufacturing of polymer additives, chemicals added to polymers to impart specific beneficial properties or to enhance performance.

Buyer Products:

  • ALTANA Chemie AG
  
Adhesives, Sealants, Coatings and Paints  
Adhesives and Sealants  
Building and Construction Adhesives and Sealants
Includes companies engaged in the manufacturing of building and construction adhesives and sealants.

Buyer Products:

  • ALTANA Chemie AG
  
Industrial Adhesives and Sealants
Includes companies engaged in the manufacturing of other industrial adhesives and sealants.

Buyer Products:

  • ALTANA Chemie AG
  
Coatings and Paints  
Coatings
Includes companies engaged in the manufacturing of coatings used in a wide range of industries.

Buyer Products:

  • ALTANA Chemie AG
  
Other Specialty and Performance Chemicals  
Electronic Materials
Materials used to manufacture electronic products such as printed circuit boards. Materials include laminates and specialty foams.

Buyer Products:

  • ALTANA Chemie AG
  

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Relationship Details

Key Competitors

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Overlap
  Novartis AG (ADR) n/a 142,354.711 20.75 19.67 3.93 3.89 3.69
Buyer
  General Electric Company n/a 363,485.495 21.15 17.97 2.28 2.28 14.03
GlaxoSmithKline plc (ADR) n/a 154,111.279 15.40 16.42 3.52 3.62 15.36
Roche Holding Ltd. (ADR) n/a 150,603.416 33.42 23.50 5.45 n/a 8.26
Novartis AG (ADR) n/a 142,354.711 20.75 19.67 3.93 3.89 3.69
Merck & Co., Inc. n/a 100,297.736 19.75 18.41 4.49 4.66 n/a
AstraZeneca plc (ADR) n/a 91,746.689 15.72 16.20 3.58 3.69 9.20
Tyco International Ltd. n/a 58,789.356 17.30 16.06 1.51 1.44 12.50
BASF AG (ADR) n/a 44,038.070 10.67 9.98 0.74 0.84 3.24
E.I. du Pont de Nemours & Company n/a 41,987.584 17.32 15.93 1.48 1.52 n/a
Teva Pharmaceutical Industries Ltd (ADR) n/a 25,246.724 488.32 15.14 3.85 3.01 n/a
Schering AG (ADR) n/a 22,346.496 29.68 28.30 3.19 n/a 6.44
Hitachi, Ltd. (ADR) n/a 19,625.339 58.01 -31.73 0.24 0.22 0.93
Akzo Nobel N.V. (ADR) n/a 16,063.531 10.35 15.15 0.94 0.83 3.77
Air Products & Chemicals, Inc. n/a 15,130.644 20.92 17.54 1.71 1.65 3.96
PPG Industries, Inc. n/a 11,256.602 16.88 13.11 1.05 1.04 7.33
Imperial Chemical Industries PLC (ADR) n/a 9,041.320 16.02 13.95 0.80 n/a n/a
Target
  The Procter & Gamble Company n/a 201,811.395 23.64 21.10 2.96 2.67 n/a
Johnson & Johnson n/a 199,398.736 18.02 18.45 3.82 3.78 n/a
Pfizer Inc. n/a 198,473.286 15.73 13.44 4.11 4.18 n/a
Novartis AG (ADR) n/a 142,354.711 20.75 19.67 3.93 3.89 3.69
Wyeth n/a 69,974.213 17.18 16.60 3.52 3.51 n/a
Bayer AG (ADR) n/a 36,750.709 18.09 16.81 1.03 1.17 n/a
Schering-Plough Corporation n/a 33,626.034 34.35 28.12 3.28 3.26 4.36
CVS Corporation n/a 25,628.336 19.53 20.49 0.65 0.60 5.64

- Defined by the Company - Defined by Others

Dependent Suppliers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  GPC Biotech AG (ADR) 97.00% 663.004 n/a n/a 32.26 n/a 5.45
3M Company n/a 58,136.101 16.92 17.53 2.59 2.56 10.11
Rockwood Holdings, Inc. n/a 1,708.757 38.84 15.66 0.53 0.52 n/a
inVentiv Health Inc. n/a 840.152 15.19 21.58 1.27 1.16 n/a
Nanophase Technologies Corporation n/a 124.791 n/a -28.36 16.64 12.51 10.39
Bracco S.p.A. n/a n/a n/a n/a n/a n/a n/a
Target
  Cardinal Health, Inc. n/a 26,140.058 26.14 17.82 0.32 0.30 7.76
UCB S.A. n/a n/a n/a n/a n/a n/a n/a
Boehringer Ingelheim GmbH n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Key Customers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Wyeth 11.40% 69,974.213 17.18 16.60 3.52 3.51 n/a
sanofi-aventis (ADR) n/a 117,673.763 57.81 13.43 3.15 3.26 n/a
CollaGenex Pharmaceutical, Inc n/a 211.888 n/a -5.52 14.16 9.17 6.80
Target
  Wal-Mart Stores, Inc. 10.00% 211,494.994 19.84 17.91 0.64 0.62 4.91
Walgreen Company 10.00% 43,182.977 24.67 21.78 0.91 0.81 4.27
CVS Corporation 10.00% 25,628.336 19.53 20.49 0.65 0.60 5.64
McKesson Corporation 10.00% 15,236.009 19.94 18.78 0.17 0.16 3.83

- Defined by the Company - Defined by Others

Key Partners

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Roche Holding Ltd. (ADR) n/a 150,603.416 33.42 23.50 5.45 n/a 8.26
sanofi-aventis (ADR) n/a 117,673.763 57.81 13.43 3.15 3.26 n/a
Wyeth n/a 69,974.213 17.18 16.60 3.52 3.51 n/a
3M Company n/a 58,136.101 16.92 17.53 2.59 2.56 10.11
Solvay SA (ADR) n/a 10,003.527 10.22 n/a 0.85 n/a 3.52
Invitrogen Corporation n/a 3,102.418 28.47 20.51 2.51 2.77 n/a
GPC Biotech AG (ADR) n/a 663.004 n/a n/a 32.26 n/a 5.45
Protherics PLC (ADR) n/a 438.308 n/a n/a 13.17 n/a 14.49
CollaGenex Pharmaceutical, Inc n/a 211.888 n/a -5.52 14.16 9.17 6.80
Nanophase Technologies Corporation n/a 124.791 n/a -28.36 16.64 12.51 10.39
Pharmacopeia Drug Discovery, Inc. n/a 67.174 n/a -2.51 3.98 4.54 2.92
Target
  Wal-Mart Stores, Inc. n/a 211,494.994 19.84 17.91 0.64 0.62 4.91
Target Corporation n/a 50,285.052 19.83 18.94 0.91 0.86 3.50
Walgreen Company n/a 43,182.977 24.67 21.78 0.91 0.81 4.27
Sears Holdings Corporation n/a 27,254.188 23.10 20.97 0.51 0.54 4.35
Cardinal Health, Inc. n/a 26,140.058 26.14 17.82 0.32 0.30 7.76
CVS Corporation n/a 25,628.336 19.53 20.49 0.65 0.60 5.64
The Kroger Co. n/a 16,357.290 16.66 15.90 0.26 0.25 6.64
McKesson Corporation n/a 15,236.009 19.94 18.78 0.17 0.16 3.83
Safeway Inc. n/a 12,864.566 17.48 16.80 0.32 0.32 4.07
AmerisourceBergen Corp. n/a 9,419.104 25.79 22.14 0.16 0.16 5.69
Rite Aid Corporation n/a 2,368.368 1.94 n/a 0.14 0.13 3.06
Albertsons LLC n/a n/a n/a n/a n/a n/a n/a
Boehringer Ingelheim GmbH n/a n/a n/a n/a n/a n/a n/a
UCB S.A. n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Financials

  Buyer Target Combined Entity
Income Statement
Operating Items
Revenue 4,601.2 239.1 4,840.3
Other Revenue 0.0 0.0 0.0
Total Revenue 4,601.2 239.1 4,840.3
Cost of Revenue 1,586.9 49.4 1,636.3
SG&A Expense 1,513.8 99.0 1,612.8
Depreciation & Amortization 0.0 0.0 0.0
Research & Development 622.2 18.9 641.1
Interest Expense 0.0 -4.3 -4.3
Other Operating Expense -13.6 0.0 -13.6
Total Expenses 3,709.3 163.0 3,872.3
Operating Income 891.9 76.2 968.0
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng 0.0 0.0 0.0
Other, Net 7.7 0.0 7.7
Income Before Taxes 899.6 76.2 975.7
Income Taxes 315.8 29.8 345.6
Income After Taxes 583.8 46.4 630.1
Minority Interest (IS) -0.4 0.0 -0.4
U.S. GAAP Adjustment -13.0 0.0 -13.0
Net Income - Excl. Xord. Items 570.4 46.4 616.7
Net Income - Incl. Xord. Items 570.4 46.4 616.7
Income Avail. to Common 570.4 46.4 616.7
Share Items
Basic Avg. Shares Outstanding 136.0 34.8 170.8
Basic EPS - Excl. Xord. Items 4.19 1.33 3.61
Basic EPS - Incl. Xord. Items 4.19 1.33 3.61
Full Dilution Adjustment 0.0 0.0 0.0
Fully Diluted Shares Outstanding 136.0 37.5 173.5
F.D. EPS - Excl. Xord. Items 4.19 1.24 3.55
F.D. EPS - Incl. Xord. Items 4.19 1.24 3.55
Dividends Per Common Share 1.39 0.00 1.39
Balance Sheet
Assets
Cash and Equivalents 545.4 34.8 580.2
ST Investments 0.0 22.2 22.2
Accounts Receivable 968.7 23.5 992.2
Inventory 542.9 10.6 553.5
Prepayments and Advances 0.0 4.9 4.9
Other Current Assets 0.0 3.7 3.7
Current Assets 2,057.0 99.6 2,156.7
PPE 0.0 8.1 8.1
Accum D&A 0.0 -0.7 -0.7
PPE, Net 1,315.1 7.4 1,322.5
Goodwill & Intangibles 865.4 127.1 992.5
Long Term Investments 236.8 0.0 236.8
Other Assets 44.1 0.0 44.1
Other LT Assets 141.1 18.4 159.5
Total Assets 4,659.5 252.6 4,912.0
Liabilities
Accounts Payable 0.0 15.2 15.2
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 0.0 11.5 11.5
ST Debt 0.0 0.0 0.0
Curr Port of LTD & Cap Lease Oblg 393.0 0.0 393.0
Other (Current) Liabilities 0.0 1.6 1.6
Current Liab. 393.0 28.3 421.3
LT Debt 47.9 0.0 47.9
Total LT Debt 47.9 0.0 47.9
Minority Interest (BS) 2.5 0.0 2.5
Deferred Taxes 41.6 0.0 41.6
Other LT Liab. 1,519.1 2.0 1,521.2
Total Liabilities 2,004.1 30.3 2,034.4
Shareholders Equity
Common Stock 0.0 0.3 0.3
Additional Paid in Capital 0.0 464.9 464.9
Retained Earnings 0.0 -243.0 -243.0
Other Equity 2,655.3 0.0 2,655.3
Total Equity 2,655.3 222.3 2,877.6
Total Liab. & Equity 4,659.5 252.6 4,912.0
Shares Outstanding 136.0 34.9 170.9
Cash Flow
Operating Cash Flow
CF Net Income 0.0 46.4 46.4
CF Depreciation 0.0 1.3 1.3
CF Deferred Taxes 0.0 2.0 2.0
Other Non-Cash Items 0.0 6.4 6.4
Change in Working Capital 821.0 -8.4 812.6
Total Cash From Operating Activities 821.0 47.6 868.6
Investing Cash Flow (not calculated)
Capital Expenditures 0.0 -128.8 -128.8
Other Investing Cash Flows -843.4 -38.2 -881.6
Total Cash From Investing Activities -843.4 -167.0 -1,010.5
Financing Cash Flow (not calculated)
Dividends Paid 0.0 0.0 0.0
Purchase Or Sale of Stock 0.0 110.5 110.5
Purchase and Retirement of Debt 0.0 0.0 0.0
Other Financing Cash Flow 77.3 19.0 96.3
Total Cash From Financing Activities 77.3 129.6 206.9
Exchange Rate Effects -13.5 0.0 -13.5
Net Change in Cash 41.3 10.2 51.5
Cash Taxes Paid 297.4 10.7 308.2
Cash Interest Paid 6.3 0.0 6.3